USS Cole is Making Its Way Back

Wednesday, September 05, 2001
A significant step in the restoration of USS Cole (DDG 67) – which was severely damaged from a terrorist attack in Aden, Yemen, last year – was achieved over the Labor Day weekend when the Aegis destroyer was rolled onto the shipyard’s floating drydock in preparation for launch on Sept. 15, 2001. Northrop Grumman Ship Systems moved the ship over land via a system of electrically powered cars traveling over rails. The shipbuilders have completed the structural replacements and repairs, and the ship is on schedule to be re-delivered next Spring.

Finance

OSV firm Farstad Continues Restructuring Talks

Supply firm Farstad Shipping's CEO Karl Johan Bakken repeats is in stand-still agreement with lenders until Oct. 1   Notable disclosures: * CEO says is talking

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

China Cosco Sinks into Red

Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half,

 
 
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